Housing grants worth $263 mill announced

Ken Dixon

Updated 10:47 am, Wednesday, August 8, 2012

Photo: Brian A. Pounds

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Bridgeport Mayor Bill Finch announces that three city affordable housing development projects, including the Mechanics & Farmers bank building, received state grant money, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012. less

Bridgeport Mayor Bill Finch announces that three city affordable housing development projects, including the Mechanics & Farmers bank building, received state grant money, on McLevy Green in downtown Bridgeport ... more

Photo: Brian A. Pounds

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Bridgeport Mayor Bill Finch announces that three city affordable housing development projects, including the Mechanics & Farmers bank building, received state grant money, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012. less

Bridgeport Mayor Bill Finch announces that three city affordable housing development projects, including the Mechanics & Farmers bank building, received state grant money, on McLevy Green in downtown Bridgeport ... more

Brandon Hall of Forstone Capital, owner of the Mechanics & Farmers building that is receiving state development dollars, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012.

Brandon Hall of Forstone Capital, owner of the Mechanics & Farmers building that is receiving state development dollars, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012.

Photo: Brian A. Pounds

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Brett Wilderman of Forstone Capital, owner of the Mechanics & Farmers building that is receiving state development dollars, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012.

Brett Wilderman of Forstone Capital, owner of the Mechanics & Farmers building that is receiving state development dollars, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012.

Photo: Brian A. Pounds

Image 6 of 11

Bridgeport Mayor Bill Finch announces that three city affordable housing development projects, including the Mechanics & Farmers bank building, received state grant money, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012. less

Bridgeport Mayor Bill Finch announces that three city affordable housing development projects, including the Mechanics & Farmers bank building, received state grant money, on McLevy Green in downtown Bridgeport ... more

Photo: Brian A. Pounds

Image 7 of 11

Bridgeport Mayor Bill Finch announces that three city affordable housing development projects, including the Mechanics & Farmers bank building, received state grant money, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012. less

Bridgeport Mayor Bill Finch announces that three city affordable housing development projects, including the Mechanics & Farmers bank building, received state grant money, on McLevy Green in downtown Bridgeport ... more

Brandon Hall of Forstone Capital, owner of the Mechanics & Farmers building that is receiving state development dollars, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012.

Brandon Hall of Forstone Capital, owner of the Mechanics & Farmers building that is receiving state development dollars, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012.

Photo: Brian A. Pounds

Image 10 of 11

Brett Wilderman of Forstone Capital, owner of the Mechanics & Farmers building that is receiving state development dollars, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012.

Brett Wilderman of Forstone Capital, owner of the Mechanics & Farmers building that is receiving state development dollars, on McLevy Green in downtown Bridgeport on Thursday, August 2, 2012.

Photo: Brian A. Pounds

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Housing grants worth $263 mill announced

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Ten affordable housing developments, including one in Norwalk, worth more than $263 million were among the first recipients of a round of competitive state grants and loans announced Aug. 2 by Gov. Dannel P. Malloy.

The multifamily developments, representing 1,018 units -- with at least 367 to be leased at below-market, affordable rates -- include three in Bridgeport and one in Norwalk. Most projects are eligible for up to $5 million each in state support.

It's part of a 10-year, $500 million effort to foster so-called workforce, affordable, supportive and congregate housing throughout the state that was approved by the General Assembly.

"The entire state's investment between 2000 and 2010 was $200 million," Malloy said. "Our administration has made an unprecedented commitment to affordable housing. Affordable housing is integral to stimulating economic develop and growing jobs. We invest in our cities and make them better places to live and work."

In Norwalk, River Commons, sponsored by Cross River Limited Partners, will renovate 34 affordable units on School Street in a multiphase, $10.4 million project.

House Minority Leader Lawrence F. Cafero Jr., R-Norwalk, who attended Malloy's news conference, said River Commons, the site of a former school and city schools administration center, will get about $4 million in state support for the work.

"They're not adding more units, but they're cleaning it up, making it more energy efficient and hopefully they'll fully occupy the whole place," Cafero said.

"The redevelopment agency certainly agrees with the concept put forward, that affordable housing close to transit is a positive way in which to generate economic development activity," he said.

Sheehan painted a picture of affordable housing in Norwalk, explaining that state law Section 8-30g requires local governments to have at least 10 percent of its housing stock affordable to households below 80 percent of the median income to retain full control over the zoning permit process when affordable units are proposed.

Norwalk has been able to maintain an affordable housing stock of more than 10 percent throughout the past decade.

"Today's announcement will serve to further strengthen a housing marketplace that is attainable by citizens who wish to live and work in our city," Norwalk Mayor Richard Moccia said in a statement.

Catherine Smith, commissioner of the state Department of Economic and Community Development, told reporters during the governor's news conference that about $80 million in long-term bonding has already been approved for the housing program.

She said about $200 million allocated for affordable housing, plus $300 million for supportive housing, still remain before the State Bond Commission, but have been approved by the Legislature.

Malloy also announced another 1,257 units of affordable units have been targeted in 11 towns and cities, including 28 units of elderly housing by New Neighborhoods Inc. in Stamford on the Atlantic property.

Those state-sponsored housing portfolio projects will be eligible for $20 million to improve properties and $10 million to revitalize physically deteriorate properties.

In addition, the DECD released a list of recent recipients for the state's Housing Tax Credit Contribution program, including $500,000 for the Greenfield supportive housing program in Stamford, $500,000 for 40 South Main St. in Norwalk, $452,000 for the Beacon II homeless shelter in Stamford and $300,000 for Project Independence in Stamford.